He said its crucial for retailers to get sales post Christmas as consumers visit stores to redeem gift cards, which dont count as sales until after they are redeemed. In fact, Dec. 26 and this Saturday both are expected to be among the seasons top 10 shopping days. Theres a lot of money thats still out there.

Meanwhile, weak in-store sales are being partly offset by growth online. Online sales between Dec. 15 and Dec. 18, for instance, jumped 13%, with 23% traffic growth, according to Custora Pulse, which tracks real time data from over 100 U.S. retailers.

Indeed, other data show that while consumers were doing last minute shopping this past week, it wont be enough to make up for Decembers overall lower numbers.

We think business picked up strongly this past weekend, as anticipated, but total holiday sales are still trending below plan, said Morgan Stanley analyst Kimberly Greenberger. The question now is will retailers meet or miss Street expectations? Beating, except for a few isolated cases, looks increasingly unlikely. If sales over the last few days before Christmas arent terrific, negative 4Q earnings revisions could follow.

Greenberger said her research showed 80% to 85% of all specialty apparel retail goods are on sale, up from 75% last year. Half of the retailers in her coverage universe are giving whole-store discounts, up from 35% last year. While week 3 didnt reveal price reductions implying all-out panic, there werent many positive signs either, she said.

I stopped in a major mall outside Cleveland tonight to get a couple last minute socking stuffers. I have never seen the parking lot so totally full as it was tonight. High percentage of new and nearly new cars too. Somebody is spending something.

I’ve never see the Stanford Shopping Center in Palo Alto more crowded than today. Mobbed and not a parking spot to be had anywhere. I gave up and went home rather than get stuck in the hour long jams in the parking lot.

.... I have noticed that the parking lots are not as full as they were in previous years. I had to slip into Walmart on Sunday afternoon to pick up a card and was very surprised to see that the parking lot was just a bit heavier than the usual Sunday!!! In years past it would have been next to impossible to find a parking spot.

I’ll probably go shopping tomorrow. Some stores start posting after Christmas sales an hour or two before closing so they’ll be ready to roll on the 26th. And of course I’ll go the day after Christmas to stock up on lights and decorations. JCPenney used to have great after Christmas sales on clothing, but I don’t really need much this year.

People know that the massive increased costs of health insurance and medical expenses due to obamacare are going to hammer them. At those who haven’t had their hours cut back to under 29 or have simply been let go.

16
posted on 12/23/2013 8:25:20 PM PST
by catnipman
(Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)

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